AT&T Doesn’t Dazzle with Latest Earnings

AT&T on Tuesday reported earnings for Q1 2013. And while the numbers didn’t necessarily disappoint, they certainly didn’t dazzle either.

The nation’s second largest wireless carrier reported net income of $3.7 billion, up marginally from $3.6 billion one year ago.

Company revenues, however, tumbled a tad to $31.4 billion, which is down 1.4 percent from the same quarter in 2012.

Strong mobile data growth, impressive postpaid net adds and consistent gains in U-verse services were among AT&T’s biggest bragging points.

Of the 6 million smartphones AT&T activated in the first quarter of this year, 4.8 million of them were Apple iPhones.

“Our wireless network performance continues to be terrific,” said Randall Stephenson, AT&T chairman and CEO. “And that helped drive our best ever first quarter for smartphone sales, improved wireless churn and strong growth in mobile data revenues. We also posted record sales of our U-verse high-speed IP service. Across all of these areas, we’ve built a solid foundation for future growth in mobile Internet and IP broadband, which will only expand as we progress with Project VIP.”